|ANN|XAGATE|Offering: XAG, XAU, XPT, XPD, BTC, LTC, NXT, CAD

Re: |ANN|XAGATE|Offering: XAG, XAU, XPT, XPD, BTC, LTC, NXT,

Postby twarden » Wed Feb 24, 2016 6:04 pm

The site is now back up and the issue has been resolved.

EDIT: The following morning I received a notification that some users were still unable to access the server; any further issues have now been resolved. If you were unable to access the server from February 24th 1pm EST through February 25th 11am EST, please try to connect to the web site again now.
XAGATE Thread~QGK

Robbieboy2 wrote:I think datz is the right man to answer this.
pigeons wrote:That's exactly what I was thinking as I read this!


Don't worry! I'm pretty sure that I got this under control, the last crazy visionary was was far too insane, but I struck the correct balance.
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Re: |ANN|XAGATE|Offering: XAG, XAU, XPT, XPD, BTC, LTC, NXT,

Postby twarden » Fri Feb 26, 2016 12:48 am

XAGATE releases USD Gateway

I am happy to announce that XAGATE now provides a USD Gateway service! Americans may now make deposits and withdrawals to our new Gateway for a 5$USD flat rate fee. The minimum withdrawal limit is 20$USD and minimum deposits must be greater than 5$.
XAGATE Thread~QGK

Robbieboy2 wrote:I think datz is the right man to answer this.
pigeons wrote:That's exactly what I was thinking as I read this!


Don't worry! I'm pretty sure that I got this under control, the last crazy visionary was was far too insane, but I struck the correct balance.
BCT Thread

I am not affiliated with Ripple Labs.
User avatar
twarden
 
Posts: 727
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Re: |ANN|XAGATE|Offering: XAG, XAU, XPT, XPD, BTC, LTC, NXT,

Postby twarden » Mon Feb 29, 2016 9:52 pm

https://xagate.com/blog/index.php/2016/ ... blic-beta/

XAGATE has now transitioned into a full Ripple Gateway offering support for all precious metals, 4 major cryptocurrencies, and two fiat currencies after a 14 months of continuous development! The XAGATE web site was updated today with a new layout in addition to reducing the ETH withdrawal fee from 2 to 0.75 ETH. In addition to this news, XAGATE has now exited its public beta phase!

Upcoming service updates will include investigating offering more fiat currencies, cryptocurrencies, an the implementation of an additional withdrawal method through XAGATE IOUs to a prepaid debit/credit card.
XAGATE Thread~QGK

Robbieboy2 wrote:I think datz is the right man to answer this.
pigeons wrote:That's exactly what I was thinking as I read this!


Don't worry! I'm pretty sure that I got this under control, the last crazy visionary was was far too insane, but I struck the correct balance.
BCT Thread

I am not affiliated with Ripple Labs.
User avatar
twarden
 
Posts: 727
Joined: Fri Jul 04, 2014 11:21 pm
Location: Ontario, Canada

Re: |ANN|XAGATE|Offering: XAG, XAU, XPT, XPD, BTC, LTC, NXT,

Postby twarden » Thu May 26, 2016 6:55 pm

XAGATE Thread~QGK

Robbieboy2 wrote:I think datz is the right man to answer this.
pigeons wrote:That's exactly what I was thinking as I read this!


Don't worry! I'm pretty sure that I got this under control, the last crazy visionary was was far too insane, but I struck the correct balance.
BCT Thread

I am not affiliated with Ripple Labs.
User avatar
twarden
 
Posts: 727
Joined: Fri Jul 04, 2014 11:21 pm
Location: Ontario, Canada

Re: |ANN|XAGATE|Offering: XAG, XAU, XPT, XPD, BTC, LTC, NXT,

Postby twarden » Wed Jul 20, 2016 5:30 pm

Due to my health complications which have led to the recent service outage of XAGATE, I have decided to put my health first and foremost. Additionally, I can no longer support the Ripple Gateway environment after the TrustSetAuth amendment has been created and passed, this change to the Ripple environment opens up the potential for financial institutions and individuals alike to abuse their position of power. FINTRAC, the regulatory body in Canada for financial reports and analysis, has updated their regulations in regard to verifying identities which will put a lot of strain on to the business during this transitional period of the new regulations coming into force in conjunction with my poor state of affairs. With these three pertinent tipping points understood by the community, I have to come clean an state that I recently have mismanaged funds an broke the 45% leverage ratio that was enacted as my internal policy for fiat currency holdings. Therefore, i my game plan going to forward is to:

a. Accept applications from individuals/businesses who have an interest in operating a Ripple Gateway for Canada who may wish to take over the fiat currency portion of the business (and/or the precious metals and cryptocurrency obligations as well).
b. Seeking partnerships with the individuals who are interested at the current residential care facility I currently call my home.
c. Limiting access to Canadian Dollar withdrawals until the lost capital has been re-established.
d. Transitioning out my full time position where I was caring for Ripple as a service provider and open source developer position as I reconsider a new career path such as a social worker or a personal support worker.

Due to the prior failures of singpolyma and jlamothe to profit from Rippleunion, I inherited their business and attempted to break even to no avail. Therefore, I will be operating the Gateway via the forums and via email alone for the time being. Due to poor personal credit I'm afraid that requesting a loan or a line of credit at a financial institution is a definite no go. For these reasons, the Gateway will be entering into a Bankruptcy Protection Plan with its clients under the following specifications until such a time that fiat currency withdrawals can fairly be enabled once again:

-The Bankruptcy Protection Plan is in force immediately
-Clients of XAGATE must have made at least 250 quality posts within the Ripple community on either XRPchat.com or here on the Official Forums
-Clients of XAGATE must be in good standing and must have submitted to the privacy policy in regard to complying with FINTRAC regulations.
-Clients who wish to withdraw fiat currency must write to taylor@xagate.com with the subject line CAD WITHDRAWAL and state
--Full Name
--Email Address
--Mailing Address
--Date of Birth
--Proof of Identity
--Proof of Residency

Before I happened myself back into the hospital, I made many new connections in thought in regard to one of the best kept secrets in the world known as the Cicada 3301 puzzle. There are two puzzles, the meta puzzle and the completion of the chain of puzzles in and of themselves, I am quite confident that I have solved the former. I have now officially invited Ripple Inc into the fold to assist with solving Stephen's, John's, and my own mess (as my private communication did not garner a response). If Ripple Inc is playing central bank within our community to keep the perceived value high, then there should be no harm in providing a some bail-out XRP in exchange for my change of position to open source developer, the information services I can provide in private to them in regards to the meta puzzle, and continue to attempt to be the Edward Snowden on Financial Markets (well, at least for Ripple).
XAGATE Thread~QGK

Robbieboy2 wrote:I think datz is the right man to answer this.
pigeons wrote:That's exactly what I was thinking as I read this!


Don't worry! I'm pretty sure that I got this under control, the last crazy visionary was was far too insane, but I struck the correct balance.
BCT Thread

I am not affiliated with Ripple Labs.
User avatar
twarden
 
Posts: 727
Joined: Fri Jul 04, 2014 11:21 pm
Location: Ontario, Canada

Re: |ANN|XAGATE|Offering: XAG, XAU, XPT, XPD, BTC, LTC, NXT,

Postby twarden » Mon Nov 21, 2016 11:20 pm

Apologies for my inactivity within the forums for the past few months, here is an update on the progress of XAGATE and The Quick Gateway Kit projects. For those who may not have read the news this past Summer that I had health issues which displaced me from my home after a stay in hospital. I was lucky enough to make a great friend through visiting the hospital after my stay, so I am happy to announce that I have finally found a new home office to operate from on my own again.

In addition to this success, I have signed a non-disclosure agreement with a company to secure a position named Vice President of Finance, CCFTD (Cryptocurrency and Financial Technology Development). I continue to receive occasional emails from interested individuals in regards to the Quick Gateway Kit and my consulting services available. Under the QGK project, I have decided to move away from as a non-profit en-devour as my focus has shifted towards serving the business to business industry.

In regard to the XAGATE website, you may have noticed that I no longer advertise that I am remitting USD, this has been due to a lack of interest on behalf of the community. I also have updated the site to reduce the amount of scrolling involved and to simplify the settlement process for users by clicking on a link which launches your email client with a form to fill out (please note that cryptocurrency deposits are still performed on site).

I now have a difficult discussion to begin in regards to the state of the financial regulations in Canada. June 2017, as a money services business, I will be required to update the method in which I verify the identity of clients which are not conducted in person. In June, I will no longer be able to accept clients' personal information and instead must use a third party who will collect information for identity verification. I have a few options for how to setup this new verification system, however all of these options either include prohibitively expensive setup costs and per-transaction fees or an unsustainable increase to the monthly overhead expenses taking into account revenue generated from ongoing business operations coupled with my current web hosting expenses.

Due to this situation, I have a few choices to make in regards to increasing revenue and minimizing expenses to remain competitive and in business. At this time XAGATE and QGK are hosted on a dedicated server so that I can operate a rippled validator to assist the network, but I believe that it has now become financially unrealistic to be able to provide such support. Therefore, I have decided to renew my current contract until the end of the year, afterward I will unfortunately migrate the sites again to a less expensive server so that the new compliance costs can be covered. I was considering for a time to announce the closure of the CAD Gateway to not be subjected to the regulations as a money services business but I do not want to be responsible for creating a situation where there is a monopoly gateway, not to mention rendering the hard work of singpoylma and jlamothe (the prior operators) work moot.

Due to the upcoming implementation of this new KYC system's cost basis per-transaction, the flat rate fees for deposits an withdrawals will increase by 75 cents to 3.50$. Therefore I must advise individuals with less than 10 CAD to consider settling their CAD position however they wish before fees increase this Summer. I will not be enforcing a transfer fee on any of the assets that I remit with this Summer's update.
XAGATE Thread~QGK

Robbieboy2 wrote:I think datz is the right man to answer this.
pigeons wrote:That's exactly what I was thinking as I read this!


Don't worry! I'm pretty sure that I got this under control, the last crazy visionary was was far too insane, but I struck the correct balance.
BCT Thread

I am not affiliated with Ripple Labs.
User avatar
twarden
 
Posts: 727
Joined: Fri Jul 04, 2014 11:21 pm
Location: Ontario, Canada

Re: |ANN|XAGATE|Offering: XAG, XAU, XPT, XPD, BTC, LTC, NXT,

Postby twarden » Tue Jan 24, 2017 7:35 pm

XAGATE's Terms of Services have been updated today to reflect changes to a new method for ascertaining the identity of our clients as required by Canadian Law. 

Clients who have not performed a transaction with the Gateway within 90 days of their last transaction will be required to verify their identity. Please note that whenever a deposit or withdraw totals $3,000 or more of any asset within a single transaction or if your total transactions within 24 hours total $10,000 or greater, you will be required to perform the identification process. The following information must be collected from the client: Full Name, Full Address (including Postal/ZIP Code), Ripple address, a clear photo of the front and reverse of their Government Photo Identification, a clear photo of you holding the identical identification, and a photo/scan/original digital document from a reputable source such as a Mobile/Wireless provider, Utilities, or Bank which includes your Full Name and Full Address in addition of a clear photo of you holding the identical document. Government Photo Identification is defined as a passport, a Driver’s License, or typically any identification which includes all of the aforementioned information. Documents originating from a reputable source must be current (dated within the past 60 days as of the time of the transaction). Photos of documents which are taken with cell phones may be declined due to poor quality.


After careful scrutiny of the dual process method within the new FINTRAC guidelines and some consultation, I have determined that there is no need to rely on the combination of Government Photo Identification plus Canadian Credit Files.  Documents which originate from a reputable third party in conjunction with Government Photo ID will suffice as long as the requirements for verification become much more stringent hence the necessity to announce that you will have to take a few more photos during the verification process.

Just in case any one is researching about the current regulations in regulations in Canada for setting up a Ripple Gateway and you want to use a third party to manage KYC for your company then:

-TransUnion will charge you a one time setup fee of 10K plus a 2K annual fee and increase overhead per transaction by 75 cents
-Canada Post's Digital Proof of Identity costs a 50K one time set-up fee plus a 5K annual license fee
-Trulioo costs 1200$ per year plus 65 cents per transaction (only 100 transactions per month)
-Equifax must have thought I was kidding them around or something because they never got back to me about their EIDcompare or EIDverfier products but I will assume that they both feature a exorbitant set-up fee, license fee, and per transaction fee. EDIT: I finally received a reply from Equifax. The eID Compare product costs a setup fee $2500 plus $1 per transaction while the eID Verifier product incurs a setup fee $6,000 plus  $2.90 per transaction in addition to $0.70 per incomplete transaction for both solutions.

I wish I could have been more active these past few months but like I mentioned once before in a prior post, I have been working with a startup as their VP of Finance.  One of the notable things that I have to update is that I may have found a job with a lawyer to set-up a cryptocurrency payment portal, so maybe I will finally get that real-world-working-example of QuickGatewayKit that I have longed to see.
XAGATE Thread~QGK

Robbieboy2 wrote:I think datz is the right man to answer this.
pigeons wrote:That's exactly what I was thinking as I read this!


Don't worry! I'm pretty sure that I got this under control, the last crazy visionary was was far too insane, but I struck the correct balance.
BCT Thread

I am not affiliated with Ripple Labs.
User avatar
twarden
 
Posts: 727
Joined: Fri Jul 04, 2014 11:21 pm
Location: Ontario, Canada

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